New York State Teachers Retirement System Purchases 16,926 Shares of Flowserve Co. (NYSE:FLS)

New York State Teachers Retirement System increased its stake in shares of Flowserve Co. (NYSE:FLS - Free Report) by 12.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,371 shares of the industrial products company's stock after purchasing an additional 16,926 shares during the quarter. New York State Teachers Retirement System owned approximately 0.11% of Flowserve worth $7,721,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company's stock valued at $27,000 after buying an additional 370 shares during the period. V Square Quantitative Management LLC bought a new position in Flowserve during the third quarter worth $27,000. nVerses Capital LLC acquired a new stake in Flowserve in the second quarter worth $34,000. Allworth Financial LP increased its stake in Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 403 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Flowserve by 166.0% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company's stock worth $47,000 after purchasing an additional 616 shares in the last quarter. Institutional investors own 93.93% of the company's stock.

Flowserve Stock Performance

NYSE FLS traded up $1.36 during trading on Tuesday, hitting $55.10. 724,536 shares of the company's stock traded hands, compared to its average volume of 1,089,146. The business has a 50 day moving average of $50.99 and a 200-day moving average of $49.15. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 1.29 and a beta of 1.38. Flowserve Co. has a 12-month low of $36.85 and a 12-month high of $55.90. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 earnings per share. As a group, equities research analysts anticipate that Flowserve Co. will post 2.71 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve's payout ratio is 41.58%.

Analysts Set New Price Targets

A number of brokerages recently commented on FLS. Mizuho boosted their target price on Flowserve from $58.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Stifel Nicolaus increased their target price on Flowserve from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Robert W. Baird lifted their price target on shares of Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. TD Cowen lifted their price objective on shares of Flowserve from $55.00 to $57.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group started coverage on shares of Flowserve in a research report on Friday, October 18th. They issued a "buy" rating and a $65.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.10.

Flowserve Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.